| SMT Holdings Sells Equipment to Pay Off Debts |
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| Written by Mike Buetow | |||
| Thursday, 27 September 2012 18:14 | |||
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HONG KONG -- Surface Mount Technology (Holdings) Ltd. has sold its surface mount equipment in Guangdong for HK$16.3 million ($2.1 million) via a tender offer. The proceeds will be used repay its creditors. The company is undergoing a restructuring. The equipment was used at the contract assembler's Dongguan City plant, which ceased production in the fourth quarter of 2011. The EMS company expects $1.4 million gain from writedowns of previously claimed impairment losses.
Ed.: 1 USD = 7.75399 HKD
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